DOE Finalizes $102 Million Loan Guarantee to Maine Wind Project
August 17, 2011
DOE announced on August 16 that it has finalized a $102 million loan guarantee to Record Hill Wind, LLC for a wind farm in Maine. The loan guarantee, in conjunction with an investment by Yale University's endowment, will support the Record Hill Wind project, which consists of a 50.6-megawatt wind power plant, an eight-mile transmission line, and associated interconnection equipment near the town of Roxbury, Maine. Developed and managed by Wagner Wind Energy I, LLC of New Hampshire and Independence Wind, LLC of Maine, the project will provide will create 200 construction jobs.
The Record Hill Wind project will consist of 22 turbines and new transmission lines to interconnect with Central Maine Power, the local utility. The turbines will be installed with innovative turbine load-control technology, a system of sensors and processing software that allows the turbines to continue to generate electricity under turbulent conditions, rather than be shut down completely. The system is also expected to reduce wear-and-tear on the turbines, reduce operation and management costs, and preserve the lifetime of the turbine components. DOE's Loan Programs Office has issued loans or loan guarantees, or has offered conditional commitments for loan guarantees totaling more than $40 billion to support 42 clean energy projects across the United States. See the DOE press release and the Loans Program Office website.